After reports suggested that LG could be preparing to exit the television business, the South Korean tech giant has now pushed back strongly against the speculation. And interestingly, the original report that triggered the rumours has disappeared as well. Korean media outlet EBN had claimed that LG executives travelled to Beijing and discussed possible restructuring plans for the company’s TV division with Chinese electronics giant Hisense. The report even suggested that a potential sale of LG’s television business may have been part of those discussions.
That immediately sparked concern across the industry. After all, LG’s history with televisions stretches back nearly 60 years. The company’s predecessor, GoldStar, launched Korea’s first black-and-white television in 1966. So naturally, the idea of LG stepping away from TVs entirely felt massive.
But now, LG says those reports are simply not true. According to the tech giant, it currently has no plans to sell or shut down its television business. LG described the ongoing claims as “incorrect and misleading,” distancing itself from the speculation that quickly spread online after the EBN report surfaced.
And there is another interesting twist here. The original EBN story has now been taken down, which suggests the earlier claims may not have been fully accurate.
Even though LG has denied the reports, many people found the story believable because of what has been happening in the global television industry recently.
Chinese brands like TCL and Hisense have aggressively expanded worldwide over the past few years, offering larger TVs at lower prices while steadily increasing market share. According to previous Omdia shipment data cited in industry reports, TCL and Hisense have already become two of the biggest TV brands globally.
At the same time, profit margins in the television business have become increasingly thin, especially outside the ultra-premium segment.
LG itself has also made major business exits before. Back in 2021, the South Korea-based tech giant shut down its smartphone division after years of losses, ending product lines like the LG Wing and V-series phones. Because of that history, speculation around another potential exit gained traction quickly.